Mortgage lending discrimination

The news article I chose is called African Americans and mortgage lending discrimination. The article goes into how banks were not providing adequate credit in certain inner-city black dominated neighborhoods. The Home Mortgage Disclosure Act of 1975 was to provide a remedy to this problem by addressing the issue of discrimination by requiring lending institutions to document mortgage lending patterns. The Act was a step in right direction but it was coming under fire for lending patterns in disporportionate rate for whites to non whites. This is what the Federal Reserve Board concluded in a study in 1990. Minority groups tended to have worse credit and a lower net worth than there white counterparts. Plus minorities tended to buy multiple-family houses than whites. On the hole most people had some flaw in their credit but in most cases a white individual would be granted a loan compared to a black individual.
The reason I chose this article is because it goes into discrimination practices by banks and not giving out loans to African American families. In the power of race video it kind of toughed on this issue. African Americans wanted to own homes right after World War II including veterans of that war. They wanted to live in the suburbs but were denied in getting loans because of the color of their skin. Obviously this type of discrimination happened before the Home Mortgage Disclosure Act of 1975 but blacks were still getting discriminated against in the lack of loans they were getting. After this lenders put in policies that tried to level the playing field in order to not have discrimination.
African Americans want to live in the American Dream and there is nothing more American than owning your own home. It was great that they put the Home Mortgage Disclosure Act but in anything that deals with bureaucracy it tends not to function well. Plus people have hidden prejudices against African American. They probable saw this as blacks moving on up in society and thought this would hurt the white family.
In the future these organizations that are in charge of lending need to perform more equality and should not discriminate against minority groups. Every person wants to live in the American Dream and should be given an opportunity to fullfill their dreams. After all our nation was